Bitcoin jumps above $80,000
Digest more
Bitcoin briefly surged past $80,000 in early trading Tuesday, extending gains from a cryptocurrency rally last week amid renewed investor appetite for riskier assets.
The price of bitcoin is trading above $80,000 for the first time since mid May, as interest in crypto assets revives once again. Concerns about dollar debasement, as the Treasury looks to intervene in the U.
Bitcoin is out of its bear market. But expect a possible pullback. That’s according to analysts at crypto research firm CryptoQuant, who say the coin is behaving like it has done in the past. CryptoQuant founder,
Bitcoin prices reached a three-month high on August 24 as several variables, including strong ETF inflows and a sustained short squeeze, caused continued gains.
Crypto-linked equities are outrunning the coins in Tuesday morning trade. The CoinShares Bitcoin Mining and Digital Power ETF (NASDAQ:WGMI) is up 4% to $46.55, while the iShares Bitcoin Trust ETF (NASDAQ:IBIT) is up 0.
Bitcoin surpasses $81,000 amid broader crypto rally.
Financial analyst Beth Kindig on Monday cited an I/O Fund analysis that projected Bitcoin’s (CRYPTO: BTC) long-term price target at $2 million, despite a weak near-term outlook. Still No Conclusive Bottom Signal?